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FIDELITY NATIONAL TITLE'S WEEKLY NEWSLETTER

Top NewsFed chief: ‘The recession is very likely over’ – USA Today – – WASHINGTON – Federal Reserve Chairman Ben Bernanke said Tuesday the worst recession since the 1930s is probably over, although he cautioned that pain especially for the nearly 15 million unemployed Americans will persist.FDIC Launches Foreclosure Prevention Initiative – FDIC – – kit of information that will help borrowers, community stakeholders and the banking industry avoid unnecessary foreclosures and stop foreclosure ‘rescue’ scams that promise false hope to consumers at risk of losing their homes. The tool kit includesDeadline nears for home tax credit – USA Today – – first-time home buyers is already linked with an uptick in sales. For the first time in five years, existing home sales have increased for four months in a row, according to an August report by the National Association of Realtors (NAR). Sales rose 7.2%

Market NewsMortgage Demand Down as Summer Ends – REALTOR Magazine – – Summer Ends Mortgage applications slowed as summer ended and potential first-time buyers wondered whether they would be able to settle in time to receive the federal home ownership tax credit, which expires DecGearing up for short sales and REOs – Inman – – regularity of short sales and foreclosure-related transactions, the National Association of Realtors has launched a Short Sales and Foreclosure Resource Certification program. ‘Someone that comes out of the program will have enough education to be aUS housing construction up 1.5 percent in August – CNBC – – is set to expire at the end of November. The National Association of Home Builders said Wednesday its housing market index rose in September, reflecting growing optimism in the industry about rising home sales. The trade association said its index roseCalifornia seen lagging behind U.S. recovery – CNN – – SAN FRANCISCO (Reuters) — California will lag the United States as the country recovers from a deep recession, with normal growth in the most populous U.S. state not seen resuming until 2011, the UCLA Anderson Forecast group said Wednesday.